Culture

Netflix Loses 200,000 Subscribers Globally, Stock Price Plummets 20%

The streaming giant states password sharing is partially to blame.

By
842 Hypes

Netflix Loses 200,000 Subscribers Globally, Stock Price Plummets 20%

The streaming giant states password sharing is partially to blame.

For the first time in over a decade, Netflix has lost subscribers. A total of 200,000 users worldwide are no longer using the service, causing Netflix’s stock to drop by more than 20%.

According to the streaming giant’s letter to its shareholders, the company’s “revenue growth has slowed considerably.” “Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally,” Netflix continued. “However, our relatively high household penetration — when including the large number of households sharing accounts — combined with competition, is creating revenue growth headwinds.” Prior to its loss, the streaming service predicted it would gain 2.5 million net subscribers in its first quarter of 2022. However, it might now be facing a global paid subscriber loss of two million for the second quarter. On top of that, due to suspending its service in Russia after the country’s invasion of Ukraine, the company lost an additional 700,000 members.

“Our plan is to reaccelerate our viewing and revenue growth by continuing to improve all aspects of Netflix — in particular the quality of our programming and recommendations, which is what our members value most,” Netflix said. “On the content side, we’re doubling down on story development and creative excellence.”

Head over to this link to read the full report.

Read Full Article
Share this article

What to Read Next

Netflix Will Require Subscribers To Pay Extra for Users Beyond Their Households
Film & TV

Netflix Will Require Subscribers To Pay Extra for Users Beyond Their Households

A tactic to prevent password sharing. 
8,339 Hypes

'Money Heist: Korea' Tops Global Netflix Charts
Film & TV

'Money Heist: Korea' Tops Global Netflix Charts

Just a few days following its premiere.
1,233 Hypes

Netflix's 'The Ultimatum': Is the Strategy Harmful or Helpful?
Sex & Dating

Netflix's 'The Ultimatum': Is the Strategy Harmful or Helpful?

It’s perhaps the most chaotic dating show on the streaming platform.
8,543 Hypes


The New Teaser Trailer for Netflix's 'Wednesday' Features Mystery, Mayhem and Murder
Film & TV

The New Teaser Trailer for Netflix's 'Wednesday' Features Mystery, Mayhem and Murder

Meet the new Addams family.
4,586 Hypes

Nike Wraps the Air Force 1 Low in Beige-Toned "Snakeskin"
Footwear

Nike Wraps the Air Force 1 Low in Beige-Toned "Snakeskin"

Along with a “Pink Nebula” spray paint effect on the midsole.
2,287 Hypes

Our Legacy WORK SHOP x Stussy Elevate Essential Styles for Spring 2022
Fashion

Our Legacy WORK SHOP x Stussy Elevate Essential Styles for Spring 2022

Ranging from hoodies to linen silhouettes.
1,460 Hypes

Nicki Minaj and Fivio Foreign Take Over the Streets of NYC in "We Go Up" Visual
Music

Nicki Minaj and Fivio Foreign Take Over the Streets of NYC in "We Go Up" Visual

The queen of rap has also teased the release of her upcoming album.
2,386 Hypes

REVOLVE Responds to Backlash Over Its Fyre Festival-Like Coachella Event
Culture

REVOLVE Responds to Backlash Over Its Fyre Festival-Like Coachella Event

Attendees were stranded with no water and under the hot sun for hours waiting for buses.
3,186 Hypes

This $7 USD Concealer Brush Is Going Viral on TikTok
Beauty

This $7 USD Concealer Brush Is Going Viral on TikTok

Beauty TikTokers are obsessed with this “kitten paw” brush.
5,697 Hypes

Cardi B and Offset's Decision To Have Children Came After She Gave Him an Ultimatum
Entertainment

Cardi B and Offset's Decision To Have Children Came After She Gave Him an Ultimatum

“You have to marry me,” she recalls telling the Migos rapper.
40,736 Hypes

Hi-BYE Is Mexico City's Best-Kept Fashion Secret
Fashion 

Hi-BYE Is Mexico City's Best-Kept Fashion Secret

The lifestyle boutique carries some of the coolest local indie designers.
39,194 Hypes

Celebrities Endorsing Sex Toys: Revolutionary or Capitalistic?
Sex & Dating

Celebrities Endorsing Sex Toys: Revolutionary or Capitalistic?

Unpacking the tropes and limitations of the sex tech industry.
1,764 Hypes


Deepti and Kyle From 'Love Is Blind' Hold Hands at Coachella
Sex & Dating

Deepti and Kyle From 'Love Is Blind' Hold Hands at Coachella

Did the co-stars just make it Instagram official?
4,024 Hypes

More ▾
 
Subscribe to our Newsletter

Keep updated on the latest news.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.